Friday, December 15, 2017
onefinestay will remain an independent business unit within the AccorHotels group

AccorHotels acquires onefinestay

AccorHotels has announced the acquisition of onefinestay, a high-end hospitality pioneer specializing in luxury serviced Home rental in key worldwide gateways, for £117m and makes a further commitment of €64m (£50m) to help the company scale internationally.

Launched in 2010 in London by Greg Marsh (CEO and co-founder), Demetrios Zoppos, Tim Davey and Evan Frank (co-founders), the company today operates a portfolio of 2,600 properties under exclusive management with strategic locations in London, New York, Paris, Los Angeles and Rome (representing an estimated asset value of more than £4bn).

With its global presence and strong expertise in both operations and digital services, AccorHotels will support a new development phase of onefinestay, accelerating its expansion across new key urban markets, providing it with its powerful distribution capacity, strong customer base, incremental synergies and its know-how as a world-leading hotelier. As a result, onefinestay has an ambitious strategy to expand to 40 new cities around the world over the next five years growing revenues tenfold.

onefinestay will remain an independent business unit within the AccorHotels Group and will continue to be led by Greg Marsh and the key management team.

Sébastien Bazin, chairman & CEO of AccorHotels said: “onefinestay has successfully captured a sweet spot: a combination of needs that neither traditional hotels nor new actors of the sharing economy can meet. With the acquisition of this exceptional brand, unique operating model and outstanding management team, AccorHotels is developing as the worldwide leader of the Serviced Homes market. Today, together with our recent investments, we are accelerating the transformation of our business model to capture the value creation linked to the rise of private rentals and also strengthening our presence in the luxury market with a complementary offer”.

Greg Marsh, co-founder & CEO of onefinestay said: “AccorHotels’ investment in onefinestay is a tremendous invitation for us to write the next chapter in our story. We share their deeply held conviction about the scale of the home rental opportunity, and greatly value their expertise, their practical & financial support as we plan the launch of more than 40 new markets over the next five years. With AccorHotels’ help, onefinestay will become a globally recognized byword for exceptional experiences, extraordinary service, and handmade hospitality.”

About Rosie Clarke

Rosie Clarke

Rosie Clarke is the editor of Resort News and Accom Management Guide as well at their digital home, accomnews. You can reach her at any time with questions or submissions.

Leave a Reply

Your email address will not be published. Required fields are marked *

Check Also

BIG4 Holiday Parks partner with Make-A-Wish

BIG4 Holiday Parks is excited to announce its partnership with Make-A-Wish Australia, the children’s charity that makes the wishes of seriously ill kids come true.

Reservations up

An Australian hotel group has converted its Reservations Centre at its head office in Surfers Paradise to a 24-hour operation to keep up with increased demand.

You can’t change your location, so lever it

There is only one aspect of your property that you absolutely cannot change – your physical address. Renovate, replace staff, add new operations, re-flag or re-brand, it makes no difference; you are where you are!